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South Korea export volume posts double-digit growth in February

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Christian Fernsby ▼ | March 25, 2020
South Korea’s export volume posted a double-digit growth in February due mainly to more business days, central bank data showed Wednesday.
South Korea central bank
South Korea   South Korea central bank
In terms of volume, the outbound shipment expanded 11.4 percent in February from a year earlier, after sliding 3.5 percent in the previous month, according to the Bank of Korea (BOK).

Topics: South Korea export

It came as the Lunar New Year’s holiday moved to January this year from February last year, raising the number of working days last month.

Export volume for computer, electronic and optical devices surged 30.5 percent on stronger demand for chips used for data server and electronic devices.

Shipment of transport equipment declined 5 percent as the COVID-19 outbreak across the globe caused production disruption in some of factories.

In terms of value, the export added 3.4 percent in February from a year ago, marking the first rebound in 15 months.

Import volume rose 1.5 percent in the month, and in terms of value, the import inched up 0.1 percent, posting the first turnaround in 10 months.